Eurozone Business Growth Highest in Almost 6 Years

job creation reached its fastest since August 2007, propelled by strong demand and optimism about the future, a survey found.

IHS Markit’s eurozone flash composite Purchasing Managers’ Index, seen as a good overall growth indicator, rose sharply to 56.0, the highest since April 2011, from 54.4 in January, confounding expectations for a slight dip to 54.3.

The broad-based acceleration, which showed France’s momentum getting close to Germany’s, suggests that if sustained, economic growth could hit 0.6 percent in the first quarter, according to Markit.

Reuters

USD/JPY – Yen Dips Despite Strong Japanese Mfg. PMI

Sleepwalking

MS

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.